Monday, November 26, 2018

Singapore FinTech Festival & the Shape of Things to Come

Just back from a splendid week in hot, sticky & smart Singapore and the FinTech Festival.

Despite the jet lag, I thought I’d send out a quick note, with more to follow (when I’m vertical again.)

I took in as many Innovation Labs as I could, talked to umpteen start-ups and met splendid developers. I saw the Eight Essential Technologies* in action & gained some sense of what’s here and what’s coming.

The Festival was focused on banking and insurance, but it’s clear that “analogue” industries will be changed at least as much as “digital” industries. (The line between them has been erased, no?)

Consider the TUAS expansion project, which will triple Port of Singapore’s size – (it’s already one of the world’s biggest and best.)

The new port will be a ‘Smart’ port, with digital technology, sensors, automated cranes, driverless vehicles, drones to inspect equipment, and a smart grid. The goal is seamless and efficient port clearance and a 50% cut in turnaround times – (already best in class).

Meanwhile, Maersk and other shipping companies are using Blockchain to create seamless and efficient flow of goods around the world. One focus area is Trade Finance.